Elon Musk gives X employees one year to replace your bank
www.theverge.com
Musk wants your “entire financial life” on his platform.

“If it involves money. It’ll be on our platform. Money or securities or whatever. So, it’s not just like send $20 to my friend. I’m talking about, like, you won’t need a bank account.”

Well that sounds terrifying!

    • remotelove@lemmy.caEnglish
      9·
      1 year ago

      That is too simplistic of a name and un-original.

      If this product moves forward, it’s likely to be on a small scale. For example, like when a person needs to send a friend reimbursement for a coffee. So, initially, if it needs a simple name for paying back friends, or other pals, why not just call it Pay-A-Pal, or PayPal for short.

      No bank account, no actual cash and everything happens in the system. It’s revolutionary! It’s like digital transactions that happen through pure accounting for a small fee. Like credit cards, but those are old.